Noble Group has said its deal to sell four kamsarmax bulkers in a bid to raise much needed funds has collapsed.
The Singapore-listed commodities trader said the unnamed buyer had failed to satisfy conditions attached to the deal.
“The buyers have failed to obtain approval from their respective board of directors on or before 1 February 2018 and therefore, in accordance with the terms and conditions of the MOA, the MOAs are null and void,” Noble said in a statement.
